Leggett & Platt officers, directors buy thousands of shares

Thirteen executives and board members of Leggett & Platt Inc. (NYSE: LEG) bought shares in the company to start off the year.

The executives, including President and CEO Karl Glassman and Chief Financial Officer Matthew Flanigan, in total purchased more than 5,430 shares for a combined $159,356 on Jan. 4, according to U.S. Securities and Exchange Commission filings made this week.

The purchases were made through a formula plan that defers a fixed portion of the businesspeople’s salaries or compensation toward share acquisitions at 85 percent of their closing price, according to the filings.

On Jan. 4, Leggett & Platt shares traded at a range of $35.88 to $36.76, near the company’s 52-week low of $33.48. Leggett & Platt’s 52-week stock high is $49.22.

Glassman led trading among his colleagues, buying about 1,127 shares for $33,068. Following his two transactions on Jan. 4, he directly owned 376,584 of the company’s 130.4 million outstanding shares, according to an SEC filing and a Nasdaq report.

Carthage-based Leggett & Platt, a manufacturer of engineered components and products for homes, offices and vehicles, is scheduled to deliver its fourth-quarter and full-year earnings results on Feb. 4.